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Coinbase executive: The USDC distribution contract with Circle automatically renews every three years and never terminates
Golden Finance reports that on May 8th, Coinbase Chief Financial Officer Alesia Haas stated during this morning’s earnings call: “Coinbase’s USDC distribution agreement automatically renews every three years and is perpetual. The contract cannot be terminated.”
Coinbase Chief Compliance Officer Paul Grewal also said: “Fortunately, the terms of the contracts we have signed with Circle are already set, and as Alesia Haas emphasized, these contracts will automatically renew. We expect to continue our cooperation with Circle under the same terms in the future.”